Paradigm has raised a $1.2 billion venture fund focused on artificial intelligence and robotics while maintaining its crypto investments.
The firm announced the new vehicle Wednesday in a blog post. It has already deployed capital into drone delivery company Zipline International and space defense startup True Anomaly.
Managing partner Alana Palmedo told Bloomberg that crypto remains central but advances elsewhere cannot be ignored. "Crypto was the first frontier for us, and it continues to be a really exciting one, but there's so much else happening right now that's pretty hard to ignore."
Paradigm was founded in 2018 by Matt Huang and Coinbase co-founder Fred Ehrsam. It previously raised a $2.5 billion crypto fund in 2021 and an $850 million early-stage blockchain fund in 2024.
The latest fund broadens the firm's scope without signaling an exit from digital assets. Co-founder Matt Huang has previously stated that crypto and AI are not viewed as a zero-sum competition.
